Tuesday, 5 May 2015
Last updated 3 hours ago
Jun 27 2008 | 11:20am ET
Multi-strategy fund of hedge funds FRM Diversified Alpha has raised £61.8 million (US$122 million) by listing on the London Stock Exchange.
The FRM Diversified Alpha fund, managed by Guernsey-based FRM Investment Management, invests in a diversified portfolio of hedge funds including equity long/short, specialist credit, relative value and directional trading.
FRM began managing diversified funds of hedge funds in January 1998 and currently manages more than US$10 billion in this strategy for institutional investors, including around 300 pension funds.
Paul Dunning, chief executive of Financial Risk Management, the group's U.K.-based investment adviser, said the fund appeals to investors looking for an equity or fixed-income substitute because of its ability to produce consistent absolute returns in various market environments.
Founded in 1991 by Blaine Tomlinson, the FRM group has more than US$15 billion in fund of hedge funds assets.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…